HEADS UP DRIVERS: Summer Gas Prices to Push "Very Close To The All-Time High"
A new prediction being made by a gas price watcher is something drivers definitely won't want to hear.
Gasbuddy.com's Sr. petroleum analyst Dan McTeague believes summer gas prices will climb "very close to the all-time high."
Before that, drivers can expect to see a jump at the pumps soon, as producers put additives in their gasoline so it can be used in warmer weather.
The more expensive "summer blend" could see an increase costing drivers as much as an extra 4 cents a litre in the coming days, pushing prices closer to $1.35 a litre.
McTeague believes the summer gas increase will set the stage for more price spikes, which could have drivers paying closer to $1.40 a litre.
He doubts we'll surpass the all-time high of $1.47 a litre mark drivers paid in July of 2008.
The average price for a litre of regular gas at most GTA stations is $1.31 as of Monday.
McTeague says that's about 15-20 cents higher than you paid last year. At these prices, it would mean drivers could be forced to spend an extra $300-600 dollars a year on gas.